{"id":510280,"date":"2022-11-15T17:50:57","date_gmt":"2022-11-15T14:50:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ny-times-ripped-for-softball-article-on-ftxs-sam-bankman-fried\/"},"modified":"2022-11-15T17:50:57","modified_gmt":"2022-11-15T14:50:57","slug":"ny-times-ripped-for-softball-article-on-ftxs-sam-bankman-fried","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ny-times-ripped-for-softball-article-on-ftxs-sam-bankman-fried\/","title":{"rendered":"#NY Times ripped for &#8216;softball article&#8217; on FTX&#8217;s Sam Bankman-Fried"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3dcd1607bd7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3dcd1607bd7\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ny-times-ripped-for-softball-article-on-ftxs-sam-bankman-fried\/#%E2%80%9CNY_Times_ripped_for_%E2%80%98softball_article_on_FTXs_Sam_Bankman-Fried%E2%80%9D\" >&#8220;NY Times ripped for &#8216;softball article&#8217; on FTX&#8217;s Sam Bankman-Fried&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CNY_Times_ripped_for_%E2%80%98softball_article_on_FTXs_Sam_Bankman-Fried%E2%80%9D\"><\/span>&#8220;NY Times ripped for &#8216;softball article&#8217; on FTX&#8217;s Sam Bankman-Fried&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>The New York Times got blowback over an article it published on Sam Bankman-Fried, with critics slamming it as a puff piece on the accused crypto fraudster.<\/p>\n<p>The Times quoted Bankman-Fried extensively for a story whose headline reads: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2022\/11\/14\/technology\/ftx-sam-bankman-fried-crypto-bankruptcy.html\">\u201cHow Sam Bankman-Fried\u2019s Crypto Empire Collapsed.\u201d<\/a> The article describes Bankman-Fried as \u201cSBF,\u201d noting that he spoke to the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>paper in an interview on Sunday.<\/p>\n<p>According to the article by Times crypto and fintech reporter David Yaffe-Bellany, Bankman-Fried seemed \u201csurprisingly calm\u201d in the interview, which lasted until after midnight.<\/p>\n<p>\u201cYou would\u2019ve thought that I\u2019d be getting no sleep right now, and instead I\u2019m getting some,\u201d Bankman-Fried, whose company was worth as much as $32 billion a year ago, told the Times. \u201cIt could be worse.\u201d<\/p>\n<p>Matt Novak, a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> critic with the news site Gizmodo, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/gizmodo.com\/nytimes-bizarre-softball-article-ftx-sam-bankman-fried-1849783646\">writes that Yaffe-Bellany<\/a> \u201clays out the facts in ways that are clearly beneficial to SBF\u2019s version of the story and leaves many of his highly questionable assertions without proper context or even the most minimal amount of pushback.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/Sam-Bankman-Fried-63-1-2.jpg?w=1024\" alt=\"Sam Bankman-Fried\" class=\"wp-image-24656296\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/Sam-Bankman-Fried-63-1-2.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/Sam-Bankman-Fried-63-1-2.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/Sam-Bankman-Fried-63-1-2.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bankman-Fried has seen his fortune go from $17 billion to zero in a matter of days.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cIt reads like if the Times had conducted an interview with Bernie Madoff after his ponzi scheme collapsed and ultimately suggested he just made some bad investments,\u201d Novak writes.<\/p>\n<p>In the Times interview, Bankman-Fried declined to go into details about FTX\u2019s handling of customer assets, which were <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arently used to make risky bets through a subsidiary, Alameda Research.<\/p>\n<p>Bankman-Fried told the Times that Alameda Research, which was run by Bankman-Fried\u2019s on-again-off-again girlfriend Caroline Ellison, amassed a large margin position on FTX, which means it had borrowed money from the company.<\/p>\n<p>\u201cIt was substantially larger than I had thought it was,\u201d Bankman-Fried told the Times. \u201cAnd in fact the downside risk was very significant.\u201d<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-wrapper twitter\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Disgraceful reporting by the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nytimes?ref_src=twsrc%5Etfw\">@nytimes<\/a> on FTX. It portrays SBF as a charitable entrepreneur who went under and does not mention the words fraud, criminal, substance abuse, friends &amp; family Bahamas KYC racket, hack, stolen funds or wiped servers anywhere.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/rBJ7O0L4sV\">https:\/\/t.co\/rBJ7O0L4sV<\/a><\/p>\n<p>\u2014 Alex Kr\u00fcger (@krugermacro) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/krugermacro\/status\/1592288944766750720?ref_src=twsrc%5Etfw\">November 14, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/figure>\n<p>\u201cHad I been a bit more concentrated on what I was doing, I would have been able to be more thorough,\u201d Bankman-Fried added during his interview with the Times. \u201cThat would have allowed me to catch what was going on on the risk side.\u201d<\/p>\n<p>On Twitter, reaction to the Times story was scathing.<\/p>\n<p>\u201cDisgraceful reporting by the @nytimes on FTX,\u201d one Twitter user tweeted. <\/p>\n<p>\u201cIt portrays SBF as a charitable entrepreneur who went under and does not mention the words fraud, criminal, substance abuse, friends &amp; family Bahamas KYC racket, hack, stolen funds or wiped servers anywhere.\u201d<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-wrapper twitter\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Word count NYT&#8217;s puff piece on SBF: <\/p>\n<p>&#8220;Fraud&#8221;: 0<br \/>&#8220;Enron&#8221;: 0<br \/>&#8220;Crime&#8221;: 0<br \/>&#8220;Illiquid&#8221;: 0<br \/>&#8220;Stolen&#8221;: 0<br \/>&#8220;Hidden&#8221;: 0<br \/>&#8220;Criminal&#8221;: 0<br \/>&#8220;Back door&#8221;: 0<br \/>&#8220;He&#8217;s getting sleep&#8221;: 1 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/htbte8IyPI\">pic.twitter.com\/htbte8IyPI<\/a><\/p>\n<p>\u2014 Trung Phan (@TrungTPhan) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TrungTPhan\/status\/1592349684471037955?ref_src=twsrc%5Etfw\">November 15, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/figure>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-wrapper twitter\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Absolute puff piece, trying to frame SBF as \u201cambitious but overextended\u201d<\/p>\n<p>SBF committed fraud by stealing billions of dollars worth of customers funds while lying to everyone the entire time<\/p>\n<p>NYT has had a policy to be negative on tech for years, why is SBF\/FTX now the exception?<\/p>\n<p>\u2014 ChainLinkGod.eth (@ChainLinkGod) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ChainLinkGod\/status\/1592356042356424704?ref_src=twsrc%5Etfw\">November 15, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/figure>\n<p>The Post has sought comment from the Times and Yaffe-Bellany.<\/p>\n<p>Novak points out that Bankman-Fried expressed little remorse in the interview. The FTX founder told the Times that his crypto exchange company \u201cexpanded too quickly\u201d and that he \u201cmissed the warning signs.\u201d<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/exclusive-behind-ftxs-fall-battling-billionaires-failed-bid-save-crypto-2022-11-10\/\">Reuters reported that at least<\/a> $4 billion of FTX funds, including customer assets, were used to fund Alameda Research\u2019s activities \u2014 an apparent violation of US securities laws.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/new-york-times-42-1.jpg?w=1024\" alt=\"The New York Times building\" class=\"wp-image-24656298\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/new-york-times-42-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/new-york-times-42-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/new-york-times-42-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The New York Times was accused of being too lenient with Bankman-Fried.<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>Gizmodo also slammed the Times for its \u201ccrypto-industry-friendly way of talking about\u201d FTT, the digital coin that FTX created in order to \u201cfacilitate trading on its platform.\u201d<\/p>\n<p>FTX\u2019s collapse was hastened after Changpeng Zhao, the CEO of rival Binance, announced on Twitter earlier this month that he was selling his cache of FTT \u2014 this just three years after Zhao bought a 20% stake in FTX.<\/p>\n<p>The token\u2019s price collapsed 80% over the next two days and a torrent of outflows from the exchange gathered pace, blockchain data show.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/FTX-38.jpg?w=1024\" alt=\"FTX logo\" class=\"wp-image-24656293\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/FTX-38.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/FTX-38.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/FTX-38.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>FTX filed for bankruptcy protection. It was worth as much as $32 billion last year.<\/figcaption><figcaption><span class=\"credit\">NurPhoto via Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cIn reality, FTT was created by SBF for the same reason that any other cryptocurrency has been created: as a speculative asset that allows early investors to extract wealth from people who place money into the asset after the price has soared,\u201d Gizmodo\u2019s Novak writes.<\/p>\n<p>Zhao\u2019s tweet, which was posted after he learned that Bankman-Fried had been urging US regulators to target Binance, alarmed FTX customers who rushed to withdraw their deposits from the exchange.<\/p>\n<p>Bankman-Fried told the Times that he regretted targeting Zhao, saying it \u201cwas not a good strategic move on my part.\u201d<\/p>\n<p>\u201cI was pretty frustrated at a lot of what I saw happening, but I should\u2019ve understood that it was not a good decision of me to express that,\u201d Bankman-Fried told the Times.<\/p>\n<p><em>With Post wires<\/em>\n                        <\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/11\/15\/ny-times-ripped-for-softball-article-on-ftxs-sam-bankman-fried\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;NY Times ripped for &#8216;softball article&#8217; on FTX&#8217;s Sam Bankman-Fried&#8221; The New York Times got blowback over an article it published on Sam Bankman-Fried, with critics slamming it as a puff piece on the accused crypto fraudster. The Times quoted Bankman-Fried extensively for a story whose headline reads: \u201cHow Sam Bankman-Fried\u2019s Crypto Empire Collapsed.\u201d The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":510281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/nyt-sam-bankman-fried.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,135234,89897,135574,76127],"class_list":["post-510280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-ftx","tag-sam-bankman-fried","tag-11-15-22","tag-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/510280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=510280"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/510280\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/510281"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=510280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=510280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=510280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}